In a statement, Hashemi said “the industry surprised us all with a slower-than-expected start" in 2019. You can customize the night for how you want it to unfold, whether it is grabbing a drink and food before you head in with your friends, or being waited on in cinema by our servers.
#Ipic movie movie#
It is the premium, but affordable, movie going experience for everyone. includes substantially all of our assets,” the company’s SEC filing said.įor the first quarter of 2019, the company reported its net losses had grown to $9.3 million from $6.4 million the year before, while revenues declined to $30.2 million from $38.7 million in 2018. At iPic Theaters we have a passion for movies and provide you with the ultimate escape. “We do not have adequate cash on hand or other available assets to repay our outstanding indebtedness and RSA could foreclose upon the property that is pledged to secure the credit facility, which.
While the company has not been declared in default, iPic reported its available cash is $2.2 million, which is not enough to cover its debts. Management said it is now in talks to draw on the money, but none has been released. IPic has $204 million of debt under a credit line extended by the pension fund. The RSA also holds 39.2 percent of the company’s stock, according to company filings. The missed interest payment was due July 1 to the Teachers’ Retirement System of Alabama (RSA), a pension fund for the state’s teachers. (Jennifer Lett/South Florida Sun-Sentinel) iPic Theaters plush cinemas indulge moviegoers in a new standard of affordable luxury deftly combining the highest levels of comfort and service that. iPic Theaters, located at The Domain: Your Night, Your Way is more than a phrase its the iPic Entertainment philosophy. Sun-sentinel reporter, Rod Hagwood interviews President & CEO Hamid Hashemi about his latest iPic Theater in Delray Beach.
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